OREANDA-NEWS. May 16, 2011. As part of efforts to bring Freight One’s corporate governance system into line with the latest international practices, the company’s board of directors adopted a resolution to create committees for strategic planning, audit, and personnel-and-compensation at its April 26 meeting.

The strategic planning committee is tasked, among other things, with developing proposals in the company’s high-priority areas of development and analyzing draft budgets (business plans) to make sure they are compliant with the company’s development strategy.

The chairman of the committee is V. A. Veremeyev. The audit committee is tasked with making sure that the company’s financial reporting and the information that the company discloses publicly or to its investors, shareholders and other interested parties are complete and accurate.

Independent director D. K. Novikov has been elected to chair the committee. The personnel-and-compensation committee will work on issues related to hiring qualified professionals for managerial positions, as well as create a system of incentives within the company. The chairman of the committee is A. V. Krapivin. The committees are advisory bodies of the company’s board of directors. In their activities, the committees are fully subordinate to Freight One’s board of directors.